General Fusion is merging with Spring Valley Acquisition Corp. III (SVAC) — in a deal that will see the Vancouver-based nuclear energy startup go public on the Nasdaq.
“Demand for energy is skyrocketing, and the power sources available to us today aren’t up to the task. We strongly believe fusion is going to play a key role in our future,” Chris Sorrells, chairman and CEO of SVAC, said in a joint news release.
“When we looked at the players in the space, General Fusion was an easy choice for us, because we believe this company has both the technology in LM26 and the team that’s needed to reach commercialization and bring the world’s energy grids into the future.”
General Fusion expects the merger to close by mid-2026.
When companies merge, it’s not uncommon for the “new entity” to cut jobs that overlap with existing operations, or are no longer necessary.
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